Artificial intelligence (AI) is no longer confined to targeted marketing. From cybersecurity to content delivery, AI is transforming industries by improving or taking over business functions.
Forbes Technology Council members shared the following functions that are being impacted by AI: cybersecurity, phishing detection, downtime prevention, supply networks, demand forecasting, consumer profiling, therapeutics and pharmaceuticals, risk management, employee empowerment, skills training, smart cities management, chatbots and user experience models, network capacity management, content delivery, activity monitoring, and personalized marketing. AI enables companies to protect employees and customers, maintain their stock, develop new products and services, and more.
Key takeaways for business professionals:
- AI is indispensable in combating sophisticated cyber attacks, but explainability is the next frontier.
- AI tools are checking every email for potential phishing attacks, reducing the number of suspicious emails that reach users.
- Implementing predictive analytics using AI and machine learning can reduce losses by enabling zero-downtime and zero-waste manufacturing.
- AI can diversify and strengthen supply networks by enabling supplier discovery and benchmarking supply base.
- AI is improving the velocity of supply chains by ensuring the delivery of goods before customers know they need them.
- AI is being used to accelerate the development of new treatments and drugs, identify risks to patients, and reimagine traditional compliance functions to prevent risk exposure.
- AI empowers employees by democratizing AI for their jobs.
- AI can analyze people's skill sets and determine the best possible paths for upskilling them.
- AI is helping in the areas of citizen service delivery, city environmental planning, energy resource management, and prevention of theft, accidents, and crime.
- AI-based chatbots are becoming more common in call centers, and AI is being used to create different user experience models for products.
- AI-driven monitoring systems and predictive analytics are enabling telcos to accurately forecast demand and predict performance outcomes to deliver superior service.
- AI is shaping market behavior by delivering content through news sites and social media.
- AI tools can quickly raise the flag for unusual activity in login history, odd transactions, and inappropriate content on social networks.
- AI scores customers based on their data and delivers personalized offers and experiences.
Conclusion: AI is improving business functions across industries, making them more efficient, effective, and secure. Companies that adopt AI are likely to gain a competitive edge and drive their business to new heights.